Agenda item

Report: 2024/25 Budget and 2024-2028 Medium Term Financial Strategy

Presented by: Councillor Christopher Wilkins - Cabinet member for Finance

Cabinet:

1. Noted the requirements of Section 106 of the LGA 1992 Act as set out in Section 1 of this report

2. Noted the Medium Term Financial Position and the Budget setting process of the Council as set out in Section 3 of this report

3. Noted the key assumptions and risks to the 2024/25 budget as set out in Appendix A of this report

4. Noted the outcomes from the Public Consultation response as set out in Appendix B and agree the savings proposals as set out in Sections 3.7 to 3.11 and Appendix C of this report and of this report.

5. Agreed the proposed Fees and Charges schedule as set out in paragraph and Appendix D and for officers to proceed with implementation of the proposed fees and charges, subject to consultation where required.

6. Agreed the proposed 2.99% increase in core Council Tax for 2024/25 as set out in paragraph 3.18;

7. Agreed the proposed additional 2% Council tax increase for the Adult Social Care Precept as set out in paragraph 3.18;

8. Agreed the proposed Council Band D basic amount of Council Tax for 2024/25 of £1736.52 being the amount calculated by the Council, in accordance with Section 31B (1) of the Act, as the basic amount of its council tax excluding the GLA precept for the year (as set out in section 3.18 to 3.20 of this report

9. Agreed the proposed Council Tax requirement for 2024/25 to be set at £158.023m as set out Appendix E of the report

10. Agreed the budgets proposed in this report and as set out in Appendix F

11. Agreed the Delegated Schools’ draft budget set out in Appendix G of this report;

12. Noted the S25 Statement of Robustness as set out in Appendix H of this report.

13. Agreed the Council Tax Support Scheme for 2024/25 as set out in Appendix I to this report (unchanged from 2023/24).

14. Agreed Council Tax discounts for early payment to be given at a rate of 1.5% as set out in Appendix J of this report.

15. Directed officers to disregard War Pension income in the assessment of Housing Benefit as detailed in see Section 11 and Appendix J and authorises the Chief Executive to approve any policy required to effect the same.

16. Noted the Equalities Impact Assessment in respect of the Council Tax Support Scheme as set out in Appendix K to this report

17. Noted that in the event the Capitalisation Direction is not awarded to the value requested before the emergency Full Council meeting on the 6th March, the Strategic Director of Resources (S151 Officer) will be required to issue a S114 report.

Report: 2024/25 Budget and 2024-2028 Medium Term Financial Strategy

Addenda circulated in advance of this Cabinet meeting

Presented by: Councillor Christopher Wilkins - Cabinet member for Finance

This report sets out the Council’s revenue budget requirement for 2024/25 and MTFS for the following three years. It makes proposals regarding the level of Council Tax required to meet the budget requirement. The report also provides an update on the outcome of the 2024/25 local government financial settlement.

This report includes:

·        The approach to setting the Council’s 2024/25 budget and MTFS for the following three years

·        The outcome of the local government finance settlement

·        The recommended Council Tax level for 2024/25.

·        The proposal to set a balanced budget.

Cabinet:

1. Noted the requirements of Section 106 of the LGA 1992 Act as set out in Section 1 of this report

2. Noted the Medium Term Financial Position and the Budget setting process of the Council as set out in Section 3 of this report

3. Noted the key assumptions and risks to the 2024/25 budget as set out in Appendix A of this report

4. Noted the outcomes from the Public Consultation response as set out in Appendix B and agree the savings proposals as set out in Sections 3.7 to 3.11 and Appendix C of this report and of this report.

5. Agreed the proposed Fees and Charges schedule as set out in paragraph and Appendix D and for officers to proceed with implementation of the proposed fees and charges, subject to consultation where required.

6. Agreed the proposed 2.99% increase in core Council Tax for 2024/25 as set out in paragraph 3.18;

7. Agreed the proposed additional 2% Council tax increase for the Adult Social Care Precept as set out in paragraph 3.18;

8. Agreed the proposed Council Band D basic amount of Council Tax for 2024/25 of £1736.52 being the amount calculated by the Council, in accordance with Section 31B (1) of the Act, as the basic amount of its council tax excluding the GLA precept for the year (as set out in section 3.18 to 3.20 of this report

9. Agreed the proposed Council Tax requirement for 2024/25 to be set at £158.023m as set out Appendix E of the report

10. Agreed the budgets proposed in this report and as set out in Appendix F

11. Agreed the Delegated Schools’ draft budget set out in Appendix G of this report;

12. Noted the S25 Statement of Robustness as set out in Appendix H of this report.

13. Agreed the Council Tax Support Scheme for 2024/25 as set out in Appendix I to this report (unchanged from 2023/24).

14. Agreed Council Tax discounts for early payment to be given at a rate of 1.5% as set out in Appendix J of this report.

15. Directed officers to disregard War Pension income in the assessment of Housing Benefit as detailed in see Section 11 and Appendix J and authorises the Chief Executive to approve any policy required to effect the same.

16. Noted the Equalities Impact Assessment in respect of the Council Tax Support Scheme as set out in Appendix K to this report

17. Noted that in the event the Capitalisation Direction is not awarded to the value requested before the emergency Full Council meeting on the 6th March, the Strategic Director of Resources (S151 Officer) will be required to issue a S114 report.

Addenda circulated in advance of this Cabinet meeting

Presented by Councillor Chris Wilkins & Andrew Blake-Herbert

·        HRA Business Plan Update, Budget 2024/25 & Capital Programme 202402028

Officers confirmed that there had been 2 Government announcements as well as updates from ELWA and a continued review of the assumptions associated with the budget since the papers were published for Cabinet which will have an impact on the budget report. These changes will be introduced into the papers to be submitted to Full Council

Cabinet reviewed the savings proposals and the budget consultation responses and agreed to the recommendations as presented in the Addendum, attached to report no. 7

·        Response to Comments Made by Overview & Scrutiny

A cross party discussion was has regarding both documents and the Cabinet noted the comments from the Overview & Scrutiny Committee. The Leader thanked the Committee for their input. Actions agreed by the Overview & Scrutiny Committee would be actioned by officers.

The Leader expressed his thanks to Kathy Freeman and her staff for their work in providing the reports and their valuable work throughout the year.

He also thanked the opposition groups for their input and support.